PSB Xchange Completes Its First Live End-to-End Digital Supply Chain Finance Transaction in Collaboration with Central Bank of India

In a significant development for India's banking sector, Central Bank of India (CBI) has successfully completed the first fully digital supply chain finance transaction on the PSB Xchange platform offered by PSB Alliance, a unified multi-lender platform designed to connect public sector banks, private sector banks, NBFCs and fintech's with corporates and their channel partners in the country to source and provide supply chain finance and small business loans.

This milestone marks the first time a fintech-originated corporate lead was seamlessly processed through the PSB Xchange ecosystem - flowing from a fintech partner connected to the platform to a participating lender, which utilized the complete PSB Xchange technology stack to underwrite, process, and extend a financing offer digitally to the corporate anchor. The corporate then accepted the offer directly on the fintech interface, completing the journey end-to-end without manual intervention.

PSB Xchange, developed by PSB Alliance in partnership with technology partner Veefin Solutions, aims to streamline supply chain financing through a unified platform. The platform offers a transparent, efficient, and scalable alternative to traditional financing methods, positioning public sector banks (PSBs) to better serve businesses, especially in the MSME sector. It demonstrates that the platform is fully operational and capable of facilitating real-time credit flows across multiple institutions - marking a significant step forward in India's digital lending landscape.

Mr. S.S Murthy, GM - MSME, Central Bank of India said, "Central Bank of India is proud to be the first PSB on PSB Xchange (A PSB Alliance Platform) to have successfully completed the inaugural transaction of Dealer Finance with a leading footwear player in the country. This milestone stands as a testament to our organization's commitment to drive supply chain finance and excellence in banking to create immense value and is here to stay for the long haul."

Anjali Mohanty, CEO & MD, PSB Alliance said, "The successful completion of the first transaction by CBI on PSBXchange marks a key milestone in advancing digital supply chain financing across PSBs. Developed in collaboration with Veefin, the platform is designed to deliver efficiency, transparency, and scalability through a unified platform. This marks another significant step forward for PSB Alliance in our commitment to being a key technological partner helping in digital transformation."

Raja Debnath, Chairperson & Managing Director, Veefin Group, said, "This milestone is a defining moment for PSB Xchange and for India's credit ecosystem. It validates the vision of building a single, interoperable digital rail where every stakeholder - lender, fintech, or corporate - can transact seamlessly and securely.

What we're witnessing today is the shift from concept to execution. The systems, integrations, and partnerships have all come together to make digital credit delivery across institutions a reality. It's a proud moment for everyone who believed in this collaborative model and for the future of supply chain finance in India."

Shares of Central Bank of India was last trading in BSE at Rs. 37.97 as compared to the previous close of Rs. 38.00. The total number of shares traded during the day was 846227 in over 2647 trades.

The stock hit an intraday high of Rs. 38.80 and intraday low of 37.76. The net turnover during the day was Rs. 32404619.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 PSBXchange